Jungle leads $11m Series A for Thailand's Pomelo

Existing investors, including 500 Startups and Fenox Venture Capital, also participated in the round, according to media reports. The Series A follows a commitment earlier this year from Indian venture debt firm InnoVen Capital, which provided $5 million in loans to Pomelo and Malaysian gym membership app KFit, and a $1.6 million pre-Series A round in 2014 also led by Jungle.

Pomelo will use the new capital to expand in Southeast Asia, and has hired former executives from Rocket Internet-backed fashion portal Zalora and Singapore-based beauty e-commerce start-up Luxola to help with its growth. Jonathan Price, a senior advisor at TPG Capital who previously served as managing director of The Body Shop Asia and global COO of Targus, also took part in the funding round and will join Pomelo as an advisor.

Founded in 2013 in Bangkok, Pomelo now has offices in Jakarta and Singapore as well, and claims to serve customers in 44 countries worldwide. The company sells clothes produced at its manufacturing facilities from designs drawn up by its own design team, seeking to enhance efficiency and brand recognition through ownership of the complete supply chain.

Jungle is currently raising its second fund, which launched last year with a target of $100 million. Investors in the vehicle include the International Finance Corporation (IFC), which committed $10 million to the fund itself and another $10 million to a co-investment vehicle to invest alongside the fund.

Based in Singapore, Jungle provides early stage investments and business building infrastructure to start-ups across the Asia Pacific region, with particular focus on Singapore, India and Southeast Asia. 

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Southeast Asia
• Consumer
• Technology
• Early-stage
• Thailand
• Jungle Ventures
• Fenox Venture Capital
• 500 Startups
• TMT